The Carmelite System Inc

Analysis

The Carmelite System Inc is a registered charity in United States, based in Germantown, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Carmelite System Inc reported income of $10.6m and spending of $7.4m, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.1m to $10.6m (+107%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 76%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Carmelite System Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Special Olympics Pennsylvania Inc ($10.6m), Spring Lake Ranch Inc ($10.6m) and Oregon Mennonite Residential Services Inc ($10.6m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 89% of the total. Compensation of current officers, directors and key employees was $762k (10% of expenses). Other salaries and wages came to $4.2m. At year end it held assets of $21.3m against liabilities of $11.7m, net assets of $9.6m. It reported 54 employees.